Amplius Wealth Advisors LLC Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Amplius Wealth Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,914 shares of the asset manager’s stock after acquiring an additional 1,377 shares during the period. Blackstone makes up about 2.2% of Amplius Wealth Advisors LLC’s portfolio, making the stock its 15th biggest position. Amplius Wealth Advisors LLC’s holdings in Blackstone were worth $19,741,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Chilton Capital Management LLC purchased a new position in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone in the 2nd quarter valued at $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter worth about $27,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the third quarter valued at approximately $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone in the 2nd quarter worth $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BX has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Redburn Atlantic assumed coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Evercore ISI lifted their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday. Finally, TD Cowen boosted their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $137.47.

Blackstone Stock Performance

Shares of BX opened at $159.71 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a 50-day simple moving average of $145.40 and a 200-day simple moving average of $132.67. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The company has a market capitalization of $114.14 billion, a PE ratio of 56.43, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Equities research analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.